South Africa Ultrasound Devices Market Size & Outlook
South Africa ultrasound devices market, 2018-2030 (US$M)
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South Africa ultrasound devices market highlights
- The South Africa ultrasound devices market generated a revenue of USD 154.2 million in 2023 and is expected to reach USD 211.3 million by 2030.
- The South Africa market is expected to grow at a CAGR of 4.6% from 2024 to 2030.
- In terms of segment, diagnostic ultrasound devices was the largest revenue generating product in 2023.
- Therapeutic Ultrasound Devices is the most lucrative product segment registering the fastest growth during the forecast period.
Ultrasound devices market data book summary
| Market revenue in 2023 | USD 154.2 million |
| Market revenue in 2030 | USD 211.3 million |
| Growth rate | 4.6% (CAGR from 2023 to 2030) |
| Largest segment | Diagnostic ultrasound devices |
| Fastest growing segment | Therapeutic Ultrasound Devices |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diagnostic Ultrasound Devices, Therapeutic Ultrasound Devices |
| Key market players worldwide | Koninklijke Philips NV, GE HealthCare Technologies Inc Common Stock, Siemens Healthineers AG ADR, Canon Inc, Mindray Medical International, Samsung BioLogics, FUJIFILM Holdings Corp, Konica Minolta Inc, Esaote |
Other key industry trends
- In terms of revenue, South Africa accounted for 1.6% of the global ultrasound devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa ultrasound devices market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 211.3 million by 2030.
Diagnostic ultrasound devices was the largest segment with a revenue share of 84.11% in 2023. Horizon Databook has segmented the South Africa ultrasound devices market based on diagnostic ultrasound devices, therapeutic ultrasound devices covering the revenue growth of each sub-segment from 2018 to 2030.
The economic development of South Africa and presence of high unmet healthcare needs are some of the primary growth drivers of the market. The expected growth in healthcare spending and increased demand for advanced healthcare treatments are anticipated to boost the market during the forecast period.
The growing prevalence of cancer in the country is expected to boost the demand for imaging systems over the forecast period. The presence of a genetically diverse population and rise in the incidence of diseases prevalent in the West, such as hypertension & heart diseases, creates the need for ultrasound scanning.
According to a report by the South African Medical Research Council, published in March 2021, the country is well-positioned to expand its medical device manufacturing. However, barriers, such as low R&D investments and fragmented industry, are limiting the market growth in the country.
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Ultrasound Devices Market Scope
Ultrasound Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Africa ultrasound devices market size, by product, 2018-2030 (US$M)
South Africa Ultrasound Devices Market Outlook Share, 2023 & 2030 (US$M)
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